Columbus McKinnon Corp. (CMCO) Sets New 1-Year High at $40.54

Columbus McKinnon Corp. (NASDAQ:CMCO)’s share price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $40.54 and last traded at $40.67, with a volume of 352,479 shares trading hands. The stock had previously closed at $36.31.

Several equities analysts recently issued reports on CMCO shares. TheStreet raised shares of Columbus McKinnon Corp. from a “c” rating to a “b” rating in a report on Tuesday, August 1st. Roth Capital started coverage on shares of Columbus McKinnon Corp. in a report on Friday, July 28th. They set a “buy” rating and a $33.00 price objective on the stock. ValuEngine raised shares of Columbus McKinnon Corp. from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Zacks Investment Research lowered shares of Columbus McKinnon Corp. from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 3rd. Finally, BidaskClub raised shares of Columbus McKinnon Corp. from a “strong sell” rating to a “sell” rating in a report on Wednesday, July 19th. One analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $34.50.

The stock’s 50-day moving average is $36.39 and its 200 day moving average is $29.81. The firm has a market cap of $903.30 million, a P/E ratio of 60.492 and a beta of 1.90.

Columbus McKinnon Corp. (NASDAQ:CMCO) last announced its earnings results on Tuesday, August 1st. The industrial products company reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.23. Columbus McKinnon Corp. had a net margin of 5.72% and a return on equity of 13.26%. The firm had revenue of $203.70 million for the quarter, compared to the consensus estimate of $190.62 million. During the same period in the prior year, the firm earned $0.32 EPS. The firm’s revenue for the quarter was up 36.7% on a year-over-year basis. On average, equities research analysts predict that Columbus McKinnon Corp. will post $1.90 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 20th. Investors of record on Friday, November 10th will be paid a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 0.44%. The ex-dividend date is Thursday, November 9th. Columbus McKinnon Corp.’s payout ratio is currently 25.00%.

In other Columbus McKinnon Corp. news, VP Gene P. Buer sold 10,669 shares of the stock in a transaction that occurred on Wednesday, August 2nd. The shares were sold at an average price of $31.66, for a total value of $337,780.54. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Timothy T. Tevens sold 8,770 shares of the stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $32.15, for a total transaction of $281,955.50. Following the completion of the sale, the chief executive officer now directly owns 293,536 shares in the company, valued at $9,437,182.40. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 167,932 shares of company stock worth $5,416,512. 3.91% of the stock is owned by insiders.

Large investors have recently made changes to their positions in the business. Schwab Charles Investment Management Inc. increased its position in shares of Columbus McKinnon Corp. by 2.4% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 123,828 shares of the industrial products company’s stock valued at $3,148,000 after purchasing an additional 2,900 shares during the last quarter. Tudor Investment Corp ET AL purchased a new stake in shares of Columbus McKinnon Corp. in the 2nd quarter valued at approximately $375,000. Principal Financial Group Inc. purchased a new stake in shares of Columbus McKinnon Corp. in the 1st quarter valued at approximately $6,443,000. Victory Capital Management Inc. increased its position in shares of Columbus McKinnon Corp. by 11.6% in the 2nd quarter. Victory Capital Management Inc. now owns 56,455 shares of the industrial products company’s stock valued at $1,435,000 after purchasing an additional 5,848 shares during the last quarter. Finally, Systematic Financial Management LP increased its position in shares of Columbus McKinnon Corp. by 23.6% in the 2nd quarter. Systematic Financial Management LP now owns 225,155 shares of the industrial products company’s stock valued at $5,723,000 after purchasing an additional 43,035 shares during the last quarter. 86.97% of the stock is currently owned by institutional investors.

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